Onion prices shoot up in Ctg markets
Onion prices marked a sharp rise in the kitchen markets of the port city in the last two days following a sudden hike in the wholesale market at Khatunganj where traders are citing the excuse of it being a ripple effect from neighbouring India.
Consumers had been happy over the last couple of months with the low prices of onion thanks to an apparent stability in the market.
Now that has turned to worries, with apprehensions of a repeat of last year's ordeals when prices skyrocketed.
Meanwhile, sales at different shops in the wholesale markets of Khatunganj witnessed a remarkable drop yesterday afternoon, with poor demand stemming from the upward trend of wholesale prices in the past three days.
Imported onion from India is the main choice for consumption in Chattogram while demand for the locally produced ones remained poor.
Retail prices of both types rose by Tk 10 to Tk 15 per kilogramme in different kitchen markets within the 24 hours of Friday.
Mohi Uddin, a service holder, bought a kilogramme of the Indian variety at Tk 35 from Karnaphuli CDA Market on Thursday.
"On the following day when I went to the same grocery shop for monthly shopping, the retailer demanded Tk 45 a kg for the same onion," said the frustrated shopper.
Mohammad Suman, the retailer, said they were forced to charge higher as the prices had been hiked at the wholesale market.
At Khatunganj's wholesale markets, prices of Indian onion suddenly rose by Tk 7 to 8 to reach Tk 37-38 per kg on Thursday from what was just the day before.
Faruk Ahmed, a commission agent, said the market was witnessing this upward trend in the past three days as prices hovered between Tk 40-41 a kg on Friday and then Tk 42-43 yesterday.
The wholesalers blamed a recent price hike in India.
Claiming that onion prices in India recently rose by Rs 13 to reach Rs 27 a kg, Ahmed said.
Wholesale price of locally grown onion also went up by Tk 10-12 a kg during the period.
Confirming this, Muhammad Idris, general secretary of Hamidullah Mia Market Traders Association of Khatunganj, said traders at different land ports hiked the prices on Thursday prompting wholesalers to do the same.
After spiralling for three days at different wholesale shops and commission agent firms, the prices made a remarkable dive yesterday.
Ahmed, the commission agent, said his shop usually sells 100 to 150 sacks of onion every day but yesterday they were able to sell only 40.
Idris said the buyers were a bit confused with the price fluctuations and were preferring to sit back and wait, assuming that the price would soon fall as a result of poor sales.
Informing that new produce of the season in India would start coming to the market in 10 to 15 days, he expected the prices would come down soon.
Comments